Common use of Trustee Removal Clause in Contracts

Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided that notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee acceptable to the Administrative Agent that meets the requirements set forth in Section 8.10 has been appointed, has agreed to act as Trustee hereunder, and has received all Required Loan Files held by the previous Trustee; provided, however, that the Trustee shall not be required to deliver the Required Loan Files to a successor until it has received all contractually due fees and reasonable out-of-pocket expenses then owing to it pursuant to the Transaction Documents.

Trustee Removal. The Trustee may be removed, with or without cause, by Agent or the Administrative Agent Required Lenders by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided that notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee acceptable to Agent or the Administrative Agent Required Lenders, as applicable, that meets the requirements set forth in Section 8.10 10.10 has been appointed, has agreed to act as Trustee hereunder, and has received all Required Portfolio Loan Files Documents and original Collateral held by the previous Trustee; provided, however, that the Trustee shall not be required to deliver the Required Portfolio Loan Files Documents and original Collateral to a successor until it has received all contractually due fees and reasonable out-of-pocket expenses then owing to it pursuant to the Transaction Loan Documents.